Resources: How To Build A Fraud-Resistant Organization

Resources learn How One Might Build A Fraud Resistant Organization By D

Resources learn how one might build a fraud resistant organization by downloading and reading the 56-page document at Jonathan Marks built on the fraud triangle, defining fraud, identifying red flags, and providing some preventive steps to protect again the risk of fraud. The article includes an illustration of the evolution of the fraud triangle into the Fraud Pentagon. The concept of the Fraud Pentagon is associated with Jonathan Marks. Learn more about his research as you access the web link. All Hands on Deck is an article that explains why communication is part of the process to detect and deter fraud. Notice the four-page document concludes with a survey on social media. Control of information representing the organization in all media is important, including social media. Access the document at the web page. Social Media is communication and organizations should have policies in place to guide their employees. Learn more by reading an article such as Social media policies in an organization are not limited to personal business on company time but to the risk of harm to the company itself by employee postings. Joseph Wells authored an article for the Journal of Accountancy, “Let them know someone is watching” as he explains fraud prevention and fraud deterrence. Read the article at. Communication in an organization includes all stakeholders, including customers and suppliers as well as employees. Read the article “Increasing the Perception that Fraud will be Detected” at. Fraud appears in many aspects of an organization or at a personal level. Learn more about the types of fraud by reading. Notice the links and additional information as you read articles in our class. We have many resources to assist you as you build your foundation knowledge and consider practical applications in the process of deterring and detecting fraud. Additional perspectives of fraud are presented as you click the links and read the web page. Checklists are important tools in the management of fraud detection and deterrence. Read the article and access the links to the right of the reading panel for additional resources. Each of these learning activities, featured in the Readings for Week 3, assists in further developing your Common Body of Knowledge (CBOK) and completing for the projects and deliverables in our course. All assignments are APA 12 font, Times New Roman, and single space. Complete the Week 3 activities listed below. Explain how our course relates to your goals at UMGC. Your explanation should include the value of at least one course resource from this week. Each student's posting should be unique! After reading the various resources this week from the "weekly learning resources accessed here" section, answer the following questions. This exercise is intended to get you to think about the various aspects of fraud detection and deterrence. 1. Select one of the readings and provide a summary. 2. How did the reading relate to fraud detection and deterrence? 3. What did you learn and how will you apply it going forward?

Paper For Above instruction

The pursuit of effective fraud detection and deterrence is a critical aspect of organizational risk management, and the resources provided this week offer comprehensive insights into strategies for building a fraud-resistant environment. One notable resource is the 56-page document built on the fraud triangle, developed by Jonathan Marks, which further evolves into the Fraud Pentagon. This model enhances understanding of fraud by adding additional elements to the traditional fraud triangle—comprising pressure, opportunity, and rationalization—thus providing a more robust framework for identifying and mitigating fraud risks. The document emphasizes the importance of awareness of red flags and implementing preventive controls, which are essential for organizations seeking to safeguard assets and reputation from fraudulent activities. Marks' research underscores that understanding the subtle cues and behavioral indicators associated with fraud can significantly improve early detection efforts and foster a culture of integrity.

This resource relates directly to fraud detection and deterrence by outlining practical steps organizations can incorporate into their preventative measures. The Fraud Pentagon’s additional components highlight areas where organizations may bolster their controls—such as enhancing employee vigilance, improving supervision, and establishing clear policies for reporting suspicious activity. Moreover, understanding the dynamics of fraud enables organizations to tailor their training programs to emphasize key risk factors, thus fostering an environment where employees are vigilant and empowered to report anomalies.

Another relevant resource is the article “All Hands on Deck,” which stresses the importance of communication across all levels of an organization in fraud detection. Effective communication channels, including the management of social media content, help prevent misinformation and uphold the organization’s reputation. Organizations must develop policies to guide social media use to mitigate risks associated with employee postings that could harm the organization’s credibility. This aligns with the broader concept of internal and external communication as a component of fraud deterrence, emphasizing transparency and stakeholder engagement.

Joseph Wells’ article “Let them know someone is watching,” further elaborates on the significance of awareness and surveillance in fraud prevention. By establishing visible oversight and promoting a culture of accountability, organizations can increase the perception that fraudulent activities are likely to be detected and punished. This proactive environment discourages potential offenders from engaging in misconduct. Similarly, the article “Increasing the Perception that Fraud will be Detected” underscores that the perception of detection alone can be a powerful deterrent.

Furthermore, the course resources advise the use of checklists as practical tools for managing fraud risk. These checklists serve as operational guides ensuring that preventive controls are consistently applied and that emerging risks are promptly addressed. The integration of these resources into organizational policies can enhance the overall effectiveness of fraud deterrence strategies.

From a personal perspective, these resources expand my understanding of how psychological, organizational, and technological factors interplay in preventing fraud. Applying these insights at UMGC, I am motivated to incorporate comprehensive communication policies within my future career roles, emphasizing transparency and accountability. I will also advocate for regular training that highlights red flags and behavioral cues indicative of fraud, promoting a vigilant organizational culture.

In conclusion, the week's readings provided valuable knowledge on the multifaceted nature of fraud detection and deterrence. By understanding models like the Fraud Pentagon, emphasizing communication, and recognizing the importance of oversight and checklists, organizations can better position themselves to prevent fraudulent activities. These resources are instrumental in developing a robust foundation of anti-fraud practices that I will carry forward in my professional endeavors and contribute to building integrity-centered organizations.

References

• Marks, J. (Year). How one might build a fraud resistant organization. [Web document].
• Wells, J. (Year). Let them know someone is watching. Journal of Accountancy.
• Additional references following APA format for scholarly sources related to fraud detection and deterrence.